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Banking Sample Paper SBI PO (Main) Sample Test Paper-6

  • question_answer
               
    Direction: Study the following table carefully to answer the questions given below:
    Name Nature of Interest Principal Amount Year Rate (%)
    M Compound Rs.10000 4
    N Simple Rs.29500 3
    O Compound Rs.20000 2 3
    P Simple 4
    Q Compound 5 2
    What is the principal of N if the ratio of interest rate of M to that of N is 2 : 3?

    A)  Rs.10449                     

    B)  Rs.20230      

    C)  Rs.25000         

    D)  Rs.17121      

    E)  Rs.25423

    Correct Answer: C

    Solution :

                 Interest rate of \[N=\frac{4\times 3}{2}=6%\] Amount = 29500. Time = 3 years Let the principal be Rs.\[x\] Then, \[x+\frac{x\times 3\times 6}{100}=29500\] Or, \[x=\]Rs. 25000


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